Spotify and Tencent take minority stakes in each other’s business

Spotify and Chinese internet giant​ Tencent are each set to acquire minority shares in the other's company in a deal that will bring together two of the world's largest music streaming platforms.
Daniel Ek, Spotify founder and chief executive, said, “Spotify and Tencent Music Entertainment see significant opportunities in the global music streaming market for all our users, artists, music and business partners. This transaction will allow both companies